TMCnet News
Chambers Street Properties Completes Sale of United Kingdom Shopping CenterPRINCETON, N.J. --(Business Wire)-- Chambers Street Properties (NYSE:CSG), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, announced it has completed the sale of Maskew Retail Park, a 144,400 square foot shopping center on the outskirts of Peterborough, United Kingdom, for approximately $63 million. Chambers Street acquired Maskew Retail Park in October 2008. It was the last remaining retail property in the Company's 129-property, 35.8 million square foot portfolio. "This sale represents the completion of our plan to strategically divest the Copany's portfolio of retail assets," said Philip L. Kianka, Executive Vice President and Chief Operating Officer, Chambers Street. "We continue to evaluate our entire portfolio as we concentrate our efforts on allocating more of our resources to the industrial property sector as part of our long-term investment strategy." About Chambers Street Properties (NYSE: CSG) Chambers Street is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, leased to creditworthy tenants. As of March 31, 2014, Chambers Street owned or had a majority interest in 129 properties located across 20 U.S. states, France, Germany, and the United Kingdom encompassing approximately 35.8 million rentable square feet. For additional information, please visit www.ChambersStreet.com.
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